NFJ Investment Group LLC Takes $4.14 Million Position in Newmont Corporation $NEM

Key Points

• NFJ Investment Group LLC purchased a new stake in Newmont Corporation valued at approximately $4.1 million by acquiring 85,659 shares in the first quarter.
• Insider activity shows that director Bruce R. Brook sold 2,077 shares, reducing his position by 5.06%, while institutional investors now own 68.85% of the company’s stock.
• Newmont recently announced a quarterly dividend of $0.25 per share, representing a 1.3% dividend yield and a payout ratio of 17.95%.

NFJ Investment Group LLC acquired a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 85,659 shares of the basic materials company's stock, valued at approximately $4,136,000.

Several other hedge funds and other institutional investors have also bought and sold shares of NEM. Nuveen LLC bought a new position in Newmont during the 1st quarter worth approximately $306,507,000. Pacer Advisors Inc. lifted its stake in Newmont by 4,203.5% in the first quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company's stock valued at $259,580,000 after buying an additional 5,251,616 shares in the last quarter. Voloridge Investment Management LLC bought a new position in Newmont in the fourth quarter valued at approximately $92,693,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in Newmont by 1,074.8% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company's stock valued at $116,416,000 after buying an additional 2,206,017 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Newmont in the fourth quarter valued at approximately $75,435,000. Institutional investors own 68.85% of the company's stock.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total transaction of $190,980.00. Following the completion of the transaction, the executive vice president owned 58,736 shares of the company's stock, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Brian Tabolt sold 7,015 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the transaction, the chief accounting officer directly owned 32,615 shares of the company's stock, valued at $2,218,472.30. This represents a 17.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,246 shares of company stock valued at $1,253,559. 0.05% of the stock is currently owned by corporate insiders.

Newmont Stock Performance

Shares of Newmont stock traded up $2.56 during trading on Wednesday, reaching $78.48. The company's stock had a trading volume of 12,168,646 shares, compared to its average volume of 11,659,286. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. The firm has a market cap of $86.21 billion, a PE ratio of 14.09, a P/E/G ratio of 0.91 and a beta of 0.34. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $78.78. The business's 50-day moving average price is $66.30 and its 200-day moving average price is $56.41.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping the consensus estimate of $0.95 by $0.48. The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The business's quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 earnings per share. Equities analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.3%. Newmont's payout ratio is presently 17.95%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NEM shares. Stifel Nicolaus started coverage on shares of Newmont in a research note on Wednesday, July 9th. They issued a "buy" rating and a $73.00 price target on the stock. Macquarie downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. National Bankshares upgraded shares of Newmont from a "sector perform" rating to an "outperform" rating in a report on Friday, July 25th. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $60.90 price objective on shares of Newmont in a report on Tuesday, July 8th. Four investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $67.38.

Newmont Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.